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We have been married 47 years and have bought and sold elen houses in that time 4 in England and 7 in Australia. Our experience is that it is much better to buy. Independence, freedom to buy and sell and often selling for much more than we bought. Rent is dead money and does not give any reward.
One house we lived in for only two years which renovated and sold for $15,000 more than we paid for it. That was in Townsville in 1992!

A mortgage owner will eventually own their home. A renter will never own the home. Hence, the renter is worst off as they have to continue paying their rent when the home owner owns the home. As house prices go up and rent prices go up, the home owner will continue to have (relatively) the same weekly/fortnight/monthly mortgage payment. The weekly rent will eventually increase higher than the weekly mortgage payment.